Two key performance metrics in a graphics rendering system are frame rate and latency. In many applications, such as augmented reality, reducing latency is very important for a realistic user experience. Alternate frame rendering (AFR) can improve frame rate by assigning alternate frames to a corresponding alternate graphics processing unit (GPU). However, AFR does not typically improve latency and can cause performance degradation in applications with inter-frame data dependencies. Split-frame rendering (SFR) is another technique that can improve frame rate for certain applications. However, SFR is impractical with modern workloads. Furthermore, both AFR and SFR impose certain computational and run-time restrictions that limit applicability to many current graphics applications. Thus, there is a need for addressing these issues and/or other issues associated with the prior art.